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Best Personal Loans in Sacramento, CA

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Reviewed byMorgan Hull
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Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Sacramento, CA

MoneyGeek reviewed the top personal loan lenders in Sacramento based on more than 35 data points. These included lender affordability and accessibility, interest rates, terms, minimum credit score and income requirements, origination and late fees, disbursement time, customer service, BBB ratings and other features.

Based on our evaluation, LightStream offers the best personal loans in Sacramento. But, depending on your needs, another lender may be right for you. For example, SoFi is a suitable lender for borrowers with good credit scores, while Upstart is the best lender for those with poor credit. For those seeking a personal loan to consolidate debt or fund home improvement, the best lenders are Upgrade and Best Egg, respectively.

Best Overall Personal Loan Lender in Sacramento: Lightstream


Best Personal Loan Lender for Bad Credit in Sacramento: Upstart


Best Personal Loan Lender for Good Credit in Sacramento: SoFi


Best Personal Loan for Debt Consolidation in Sacramento: Upgrade


Best Personal Loan for Home Improvement in Sacramento: Best Egg


How to Choose the Best Personal Loan Lender in Sacramento for You

People apply for personal loans for different reasons such as home improvement, debt consolidation, car financing, moving expenses, medical fees and tuition. The average personal loan in California is $16,790. To choose a personal loan lender, check your credit score, monthly income, and debt-to-income ratio to know your eligibility.

To find the best personal loans in Sacramento, MoneyGeek suggests following these steps:


Ask Yourself the Important Questions

Before applying for a personal loan, it’s important to evaluate your current financial situation and assess your need for a loan. Knowing information, like your credit score, desired loan amount, capacity to make monthly payments and existing debt, will help you narrow down your list of potential lenders. At a minimum, you should answer the following questions:

  1. How much funding do I need?
  2. What is my credit score?
  3. Can I afford the monthly payment?
  4. How much debt do I already have?

Do Your Research

Before submitting a loan application, you should compare different lenders for their rates, loan limits and requirements to find the best one for your financial situation. MoneyGeek’s guide is a good place to start, but completing your own research will help you find the best personal loans in Sacramento that meet your unique needs.



After you’ve selected your preferred lender, it’s best to wait a day or two before applying for a loan. A personal loan is a long-term commitment, so you should be confident that it’s the best financial path for you. During this time, you can explore alternative options for funding. Depending on the funding amount and urgency of your need, you might be better off borrowing from friends and relatives or simply saving up over time or borrowing from friends and relatives.


Read the Fine Print

While it may be common to overlook some details when checking out personal loans from different lenders, ensure that you genuinely understand the terms and conditions. There may be hidden fees that you may find out once you sign the loan application.

Once you choose a lender, you should research their fees, including prepayment penalties, late fees and origination fees. Paying attention to the details can save you a lot of money in the long run. If you have any questions, you can always contact the lender for clarification.



At this point, you should feel confident in your choice of lender and have gathered all the necessary information to apply. Identity verification, address and proof of income are standard requirements for lenders during the loan application process. Even if it may be more convenient to apply online, you can also call or visit the lender in person.

What to Do if You Can’t Get a Personal Loan in Sacramento

If your loan application is rejected, you should reach out to the lender and ask why your application was denied. Loans can be denied due to an insufficient credit score or income. In some cases, you may be able to modify your application, by either shortening the loan terms or reducing the loan amount, to gain approval.

It’s critical that you find out why your application was rejected so that you can improve it before applying with a different lender. The more loan applications you submit, the greater the chance that your credit score will be negatively impacted.

We strongly advise against getting a payday loan. These loans feature very high-interest rates and short repayment terms. If you fail to pay, you may be liable for any unpaid interest plus the balance amount. Late payments may result in a collection agency contacting you, which negatively affects your credit.

Frequently Asked Questions About Personal Loans in Sacramento

Your specific needs and various credit and income considerations will determine the best personal loan lender in Sacramento for you. We've answered some of the most frequently asked questions about personal loans in Sacramento, CA.

The best overall personal lender in Sacramento is Lightstream. But, for those with good credit, the best lender is SoFi, and for those with bad credit, the best is Upstart. The best options for debt consolidation and home improvement loans are Upgrade and Best Egg, respectively.

LightStream offers the lowest starting APR at 2.49%. However, the interest rate you receive will depend on your financial history and loan agreement.

Personal loans may be used for various reasons, including vacation expenses. However, some lenders have restrictions on the usage of funds. It's best to check with the lender to know if there are any limits on how you may use your loan.

Most personal loans can be used for home improvement purposes. When in doubt, it's best to consult with the lender to see if they have any restrictions.

Personal loans may be used for almost any purpose. However, some lenders have limits on what you can use the loan for. For instance, lenders may prohibit their loans from being used to refinance mortgages or other loans, fund educational expenses, buy bonds or stocks or fund gambling activities.

The maximum amount you can borrow in a Sacramento personal loan varies by lender. Depending on the lender and your borrower profiles, you may qualify for a loan ranging from $1,000 to $100,000.

Each lender has a specific timeframe for funding your loan. Some lenders have same-day funding, but most process personal loans between one and seven days.

Lenders may charge you a prepayment fee if you pay a personal loan before the end of its term. However, some lenders don't charge you a fee for repaying your loan early. It's best to consult with your lender or read the loan agreement's fine print.

Our Personal Loan Methodology

We evaluated over 30 personal loan lenders based on 35+ individual data points in six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility, and lender transparency.

We considered several individual data points within each ranking criteria category that we believe carry the most weight when selecting a personal loan lender. These factors are APR ranges, available loan amount, minimum credit score, income amount, application fees, and disbursement time.

We value you, the consumer, at MoneyGeek, so we consider each lender's customer service, business ratings, and additional features that could make your experience easier and more accessible, such as prequalification, payment options, and mobile apps.

Our selections are made after careful consideration and calculation, with your best interests in mind. Our loan recommendations and expert advice assist you in making the best decision when selecting a lender that meets your requirements.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.